Khabib had announced his retirement at UFC 254 after his second-round submission win over Justin Gaethje.
However, many analysts and fans, including UFC President Dana White, were of the opinion that Khabib will return at least for one fight to try and go 30-0 in his professional MMA career.
Khabib Nurmagomedov has put an end to all these discussions.
The Dagestani was attending a session at the Plekhanov Russian University of Economics and while answering questions from a group of young people, Khabib discussed his future plans.
"You can fight until you're 40 but there should be a goal," he said.
"I had a goal to reach the summit and I got there. Further, I have no competitive interest.
"Next year I will graduate. I'd like to [build on] my thesis, do a master's course, dedicate more time to studying.
"I've bought sheep, I tend to my farm. I'd like to develop in this field a little. I have the bull calves out to feed, I have cows."
Khabib also has various other business interests such as his eponymous new mobile virtual network operations. He also stars in his own life coaching course through an online campus.
He further added when asked about his political interests, “I would like to take part in a place where I can bring a benefit.
"It doesn't have to be big politics. Right now I can bring a benefit without being a politician, and that's enough for me."
Khabib Nurmagomedov announced his retirement at UFC 254
At UFC 254, Khabib Nurmagomedov submitted Justin Gaethje in the second round of perhaps the most awaited fight in 2020.
Khabib then shocked the MMA community by announcing his retirement.
The win gave him the top spot in the UFC pound-for-pound rankings, dethroning former light heavyweight king Jon Jones.
Khabib stated that he had promised his mother he would not fight again without his father by his side.
The fighter had lost his father and lifelong coach Abdulmanap Nurmagomedov due to complications arising from Covid-19, earlier in the year.